Remortgaging enables you to switch mortgage if you find a better deal or to change the length of your mortgage term. This can mean that you make substantial savings and can allow you to borrow more money.
The remortgaging process itself is usually straightforward but can be costly, so you will need to carefully consider your options before switching lender. Conveyancing, surveys and any redemption or reservation fees will need to be taken into account.
You won’t always need a solicitor for the remortgaging process. For example, if you’re just getting an advance (i.e. borrowing more on your existing mortgage deal with your existing lender) then there are no legal charges involved. And if you remortgage with your current lender by simply moving to a new rate or deal, this also requires no additional legal work. Otherwise, remortgaging will require you to have a solicitor to carry out the legal side of things. Contact Dale & Co. for free advice about the process and how we can help.
Last Updated: Thursday 25th April 2019
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